Hi all
Its true that both the companies are getting together to built some cars and also hybrid cars. I also heard that BMW is aggressively looking forward to gain an insight from Toyota Motors for its hybrid engine technology. On the other hand, Toyota Motors hopes to make use of the BMW’s expertise in the diesel engine technology.

Right from sedans to SUVs, BMW offers its entire line-up in diesel and petrol variants in India. Its dominance in the diesel technology is not unknown across the globe. This very fact has attracted the Toyota Motors to form a pact and seek benefits mutually.
I got this information from cardekho.